MA6 - Schedule of Cost of Goods Manufactured Example - Part 1

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Module 2 examines cost terminology, the schedule of cost of goods manufactured, the schedule of cost of goods sold and the income statement. Terminology discussed includes: Direct materials, direct labour, manufacturing overhead, selling costs, administrative costs, variable costs, fixed costs, and mixed costs.

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[@Tony-Bell]

Thank you!!

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Thank you Tony for the help! I found this video to be very helpful and I will definitely recommend this video to many of my classmates.

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[@carlandreicoderias5286]

Where my Classmates at?

[@pubgmobileclashroyale4725]

Best explanation

[@DreamFirms]

What a cool approach! Thank you for the share.

[@Winnie-fs4gi]

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[@edanurdiler2791]

Can you explain which type "Packing supplies for shipment" ?

[@radionwrx389]

Thank you for your job. Its really helpfull and easy for understanding.

[@michellelal9625]

What about indirect labour?

[@fouckuall]

why didn't you add finished goods in it

[@KhorMingLiang]

Thank you for saving my final exam 😭

[@noonagrandeur2363]

Sir, i want to ask, is packaging cost part of manufacturing overhead?

[@pubgmobileclashroyale4725]

it should be

[@samkab677]

Are there journal entries for these?

[@fabioverita7862]

Tony you said I could put away my calculator in the first lecture what are you doing?

[@Tony-Bell]

Haha - that was ONLY for the first lecture! After that, calculators are needed!!

[@roseb.5367]

May Accounting love me too, the same way I love it😢... I will continue to study 😂😂😂 Thank you

[@HD-xh3fk]

Hi, if we hire accountant to take care the billing and purchasing for materials, is that considered admin cost ?

[@Tony-Bell]

Yup! Should be admin.

[@noonagrandeur2363]

@@Tony-Bell Sir, is packaging cost part of manufacturing overhead?

[@trundlekelly]

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[@trundlekelly]

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[@Theperspectiveplus]

Inventory of raw material 2025? How's that possible at January 2025

[@MementoMori1001]

Those are the excess of the previous year work in process balance. Example you forwarded 100 buns from your warehouse to your burger station but at the end of the year there's 20 unused buns which are considered the ending material inventory of 2024 which is the beginning material inventory of 2025

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[@odeemena3649]

Life Saver